Monday, September 14, 2009
Saturday, August 15, 2009
Friday, August 14, 2009
Thursday, August 13, 2009
These are the scandals that first hit my mind when thinking about 80's. I'm sure there are probably others out there and I welcome your feedback in the comments. That being said, out of the ten scandals off the top of my head in the 80's, I ranked them according to their importance and impact.
The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 745 savings and loan associations (S&Ls aka thrifts). An S&L association is a financial institution in the United States that accepts savings deposits and makes mortgage loans. The ultimate cost of the crisis is estimated to have totaled around $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government—that is, the U.S. taxpayer, either directly or through charges on their savings and loan accounts—which contributed to the large budget deficits of the early 1990s.
The concomitant slowdown in the finance industry and the real estate market may have been a contributing cause of the 1990–1991 economic recession. Between 1986 and 1991, the number of new homes constructed per year dropped from 1.8 million to 1 million, the lowest rate since World War II
I'll be typin' at ya later,
Bob the Blogger